Team SoloMid’s parent company, SoloMid Corporation, has reportedly agreed to terms that will result in the organization receiving $25 million in investment from Bessemer Venture Partners. The Silicon Valley venture capital company will lead a funding round for a minority share of TSM’s parent organization, which is now seeking for more investors to join. Andy “Reginald” Dinh, the team’s owner, stated with a reddit comment that no deal has been finalized yet, but didn’t deny the negotiations.

[perfectpullquote align=”right” cite=”” link=”” color=”” class=”” size=””]Out of the ten NA LCS teams, TSM was the only one without major outside capital investment.[/perfectpullquote]

Uncited sources, credited by ESPN’s Jacob Wolf, state that Bessemer will contribute more than half of SoloMid’s raising goal. Upon completion of the funding round, SoloMid Corporation’s valuation is expected to exceed $100 million, about the same as Cloud9’s after its $25 million funding last October, or Immortals—which were recently evaluated around $105 million to $140 million, ESPN reports.

Related posts:

If the deal does go through, it signals a change of direction for TSM. Out of the ten teams competing in the North American League of Legends Championship Series, TSM was the only one without major outside capital investment.

Bessemer has funded, among others, companies like Skype, LinkedIn, Pinterest, and Twitch—selling its shares when Amazon took over the reigning livestreaming king in the West. The company is best known for publishing its anti-portfolio, however, the list of companies it snubbed and went on to become huge successes, including Airbnb, Apple, Google, eBay, PayPal, and Tesla.

Founded in 2009 by Andy Dinh, TSM is one of the most popular esports teams, with almost three million accumulated followers on social media. It is best known for its League of Legends team, six-time North American champion, but it is also represented in Hearthstone, Super Smash Bros, Overwatch, PUBG, and Vainglory, while in the past it has had success in Counter-Strike: Global Offensive, and Smite.